Table of Contents

Carbon Pricing

Carbon Pricing

Design, Experiences and Issues

Critical Issues in Environmental Taxation series

Edited by Larry Kreiser, Mikael S. Andersen, Birgitte E. Olsen, Stefan Speck, Janet E. Milne and Hope Ashiabor

Carbon Pricing reflects upon and further develops the ongoing and worthwhile global debate into how to design carbon pricing, and how to utilize the financial proceeds in the best possible way for society. The world has recently witnessed a significant downward adjustment in fossil fuel prices, which has negative implications for the future of our environment. In light of these negative developments, it is important to understand the benefits of environmental sustainability through well-documented research. This discerning book considers the design of carbon taxes and examines the consequential outcomes of different taxation compositions as regulatory instruments. Expert contributors assess a variety of national experiences to provide an empirical insight into the use of carbon taxes, emissions trading, energy taxes and excise taxes. The overarching discussion concludes that successful policies used by some countries can be implemented in other jurisdictions with minimum new research and experimentation.

Chapter 10: Urban road pricing: the experience of Milan

Edoardo Croci and Aldo Ravazzi Douvan

Subjects: economics and finance, economics of innovation, environment, energy policy and regulation, environmental law, law - academic, environmental law, tax law and fiscal policy, politics and public policy, environmental politics and policy

Extract

Negative externalities generated by mobility have been studied by economists since the nineteenth century (Newbery, 1988, 1990). Main categories of externalities concern environmental impacts, accidents and congestion. Environmental impacts refer to local air quality degradation due to traffic emissions (causing health consequences, life expectancy reduction, real estate values reduction and damages to cultural heritage), noise (causing health consequences, stress, real estate values reduction), contribution to global climate change through CO2 emissions. Accidents involve material damages to vehicles, injuries and deaths to people. Congestion is responsible for time loss, economic productivity decrease, extra fuel consumption and frustration. Externalities can vary with respect to three main aspects: place where they are generated, time, type of vehicle (CE Delft, 2011). Mobility in dense, highly populated and attractive areas, like city centres or main commuting roads, generates higher levels of congestion and other externalities than in scarcely populated and isolated areas. Mobility in peak hours generates higher levels of congestion and other externalities than in daytime off-peak and night hours. Private motorized traffic generates higher per capita emissions than public transportation and non-motorized modes. Trucks give a higher contribution to congestion than cars and motorbikes.

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